It could do with a lot of improvements but there's not much money for them since it's a municipal road. The city can only really afford to maintain it. The stuff you "hear" every now and then are rumours and pipe dreams, not concrete proposals. Unless the province assumes control of it or the population explodes I don't think you'll see it extended to Puce in our lifetime. Which is a shame because I used to work in Emeryville and the traffic was bad enough that it was faster for me to take the 401.
I read in the Windsor Star a few months ago the city requested to the MTO to upload it (which would be nice) but I wouldn't hold my breath on that.
Except for the section between Huron Church and Howard the pavement is in decent shape. They've done some nice aesthetic upgrades on the underpasses at Howard and Walker and inside some of the loop ramps. They've been slowly replacing the parapets on the bridges as well.
So it looks like we'll be stuck with four lanes, closely spaced interchanges with weave lanes, crappy signage and Londoners thinking we're over-privileged twats for bitching about our local expressway for the foreseeable future